STRATEGIC TRANSFORMATIONS: ASSESSING THE INTERPLAY OF DIGITAL COMMERCE, TRADITIONAL TRADE, AND EMERGING MARKET TRENDS IN THE GLOBAL BUSINESS LANDSCAPE

Authors

  • Alfiana Alfiana Universitas Muhammadiyah Bandung, Indonesia
  • Listiana Sri Mulatsih Universitas Bung Hatta, Padang, Indonesia
  • Al- Amin Universitas Islam Negeri Sjech M. Djamil Djambek Bukittinggi, Indonesia
  • Muhamad Stiadi Universitas Sembilanbelas November Kolaka, Indonesia
  • Dede Gustian Universitas Sains Cut Nyak Dhien, Indonesia

Keywords:

Strategic Transformations, Digital Commerce, Traditional Trade, Emerging Market Trends, Global Business Landscape, Sustainability, Hybrid Models, Omnichannel Strategies.

Abstract

In this comprehensive study titled "Strategic Transformations: Assessing the Interplay of Digital Commerce, Traditional Trade, and Emerging Market Trends in the Global Business Landscape," we embarked on a multifaceted exploration of the dynamic forces reshaping the global business environment. We delved into the complex interplay between digital commerce, traditional trade practices, and emerging market trends using empirical data and a rigorous analytical approach. Our research revealed a profound shift in how businesses operate and consumers engage with the marketplace. We found that once considered optional, digital commerce has evolved into an imperative for businesses seeking to remain competitive in the 21st century. This transformation extends beyond adopting online platforms; it encompasses the digitalization of supply chains, data-driven decision-making, and integrating emerging technologies such as Artificial Intelligence (AI) and Blockchain. Furthermore, our findings highlighted the intricate coexistence and convergence of digital and traditional trade practices. Businesses increasingly adopt hybrid models and omnichannel strategies to cater to diverse consumer preferences. This strategic adaptation allows them to leverage the strengths of both digital and traditional methods while remaining agile in response to emerging market trends. Sustainability emerged as a paramount concern, shaping consumer choices and driving businesses to embrace eco-conscious practices. The study underscores the need for businesses to view sustainability not as a mere trend but as a fundamental driver of their strategic decisions. Our research provides valuable insights for businesses, policymakers, and stakeholders navigating this transformative landscape. It contributes to the ongoing discourse on the future of commerce, offering practical implications and a roadmap for strategic decision-making in a world where the digital and traditional realms of business intersect and evolve.

References

Anderson, E. (2019). Code of the Street. The Wiley Blackwell Encyclopedia of Urban and Regional Studies, 1-3.

Arias Montevechio, E., Crispin Cunya, M., Fernández Jorquera, F., Rendon, E., Vásquez-Lavin, F., Stehr, A., & Ponce Oliva, R. D. (2023). Traditional crops and climate change adaptation: insights from the Andean agricultural sector. Climate and Development, 1-15.

Asmundson, G. J., & Taylor, S. (2020). Coronaphobia: Fear and the 2019-nCoV outbreak. Journal of anxiety disorders, 70, 102196.

Bajpai, M., Singh Katoch, S., & Singh, M. (2020). Optimization and economic study of the electro-coagulation unit using CCD to treat real graywater and its reuse potential. Environmental Science and Pollution Research, p. 27, 42040–42050.

Chang, S. E., Luo, H. L., & Chen, Y. (2019). Blockchain-enabled trade finance innovation: A potential paradigm shift on using the letter of credit. Sustainability, 12(1), 188.

Epstein, M. J., & Buhovac, A. R. (2014). Making sustainability work: Best practices in managing and measuring corporate social, environmental, and economic impacts. Berrett-Koehler Publishers.

Gazzola, P., Pavione, E., Pezzetti, R., & Grechi, D. (2020). Trends in the fashion industry. The perception of sustainability and circular economy: A gender/generation quantitative approach. Sustainability, 12(7), 2809.

George, A. S., & George, A. H. (2022). Open Network for Digital Commerce (ONDC): Democratizing Digital Commerce and curbing digital monopolies in India. Partners Universal International Research Journal, 1(2), 92–102.

Groenland, E., & Dana, L. P. (2020). Qualitative methodologies and data collection methods: Toward increased rigor in management research.

Hahn Fox, B., & Jennings, W. G. (2014). How to write a methodology and results section for empirical research. Journal of Criminal Justice Education, 25(2), 137-156.

Ismail, M. H., Khater, M., & Zaki, M. (2017). Digital business transformation and strategy: What do we know so far? Cambridge Service Alliance, 10(1), 1–35.

Ivanova, I. A., & Leydesdorff, L. (2014). Rotational symmetry and the transformation of innovation systems in a Triple Helix of university–industry–government relations. Technological forecasting and social change, 86, 143-156.

Jensen, K. B. (2022). Media convergence: The three degrees of network, mass, and interpersonal communication. Routledge.

Klaus, P. P. (2021). physical–the emperor’s new clothes? Journal of Strategic Marketing, pp. 1–8.

Kodama, M., & Shibata, T. (2014). Strategy transformation through strategic innovation capability–a case study of F and. R&D Management, 44(1), 75-103.

Kwak, J., Zhang, Y., & Yu, J. (2019). Legitimacy building and e-commerce platform development in China: The experience of Alibaba. Technological Forecasting and Social Change, pp. 139, 115–124.

McCambridge, J., Witton, J., & Elbourne, D. R. (2014). A systematic review of the Hawthorne effect: New concepts are needed to study research participation effects. Journal of Clinical Epidemiology, 67(3), 267–277.

Morgan, A. K., Awafo, B. A., & Quartey, T. (2021). The effects of COVID-19 on global economic output and sustainability: evidence from around the world and lessons for redress. Sustainability: Science, practice and policy, 17(1), 76–80.

Nanda, A., Xu, Y., & Zhang, F. (2021). How would the COVID-19 pandemic reshape retail real estate and high streets through the acceleration of E-commerce and digitalization? Journal of Urban Management, 10(2), 110–124.

Painter, M., Hibbert, S., & Cooper, T. (2019). Developing responsible and sustainable business practices: Value, mindsets, business models. Journal of Business Ethics, pp. 157, 885–891.

Pichler, P. P., Jaccard, I. S., Weisz, U., & Weisz, H. (2019). International comparison of health care carbon footprints. Environmental research letters, 14(6), 064004.

Purnomo, B. R., Adiguna, R., Widodo, W., Suyatna, H., & Nusantoro, B. P. (2021). Entrepreneurial resilience during the Covid-19 pandemic: navigating survival, continuity and growth. Journal of Entrepreneurship in Emerging Economies, 13(4), 497-524.

Ratten, V. (2020). Coronavirus and international business: An entrepreneurial ecosystem perspective. Thunderbird International Business Review, 62(5), 629–634.

Requena, J. Á. G. (2017). Adapting the concept of permanent establishment to the context of digital commerce: from fixity to significant digital economic presence. Intertax, 45(11).

Ross, P. T., & Bibler Zaidi, N. L. (2019). Limited by our limitations. Perspectives on medical education, 8, 261-264.

Schwarz, J. O., Ram, C., & Rohrbeck, R. (2019). Combining scenario planning and business wargaming to anticipate future competitive dynamics better. Futures, 105, 133-142.

Sharma, P., Subbarao, P. S., Sane, A., & Biradar, J. (2023). Guest editorial: Innovative practices in business, trade, and commerce–challenges and opportunities. Journal of Indian Business Research, 15(1), 1–8.

Sheng, J., Amankwah‐Amoah, J., Khan, Z., & Wang, X. (2021). COVID‐19 pandemic in the new era of big data analytics: Methodological innovations and future research directions. British Journal of Management, 32(4), 1164-1183.

Soluk, J., Miroshnychenko, I., Kammerlander, N., & De Massis, A. (2021). Family influence and digital business model innovation: the enabling role of dynamic capabilities. Entrepreneurship Theory and Practice, 45(4), 867-905.

Sun, P., Doh, J. P., Rajwani, T., & Siegel, D. (2021). Navigating cross-border institutional complexity: A review and assessment of multinational nonmarket strategy research. Journal of International Business Studies, 52(9), 1818-1853.

Suri, H. (2020). Ethical considerations of conducting systematic reviews in educational research. Systematic reviews in educational research: Methodology, perspectives and application, pp. 41–54.

Szustakowski, J. D., Balasubramanian, S., Kvikstad, E., Khalid, S., Bronson, P. G., Sasson, A., ... & Reid, J. G. (2021). Advancing human genetics research and drug discovery through exome sequencing of the UK Biobank. Nature genetics, 53(7), 942-948.

Tigor, M. (2020). How to State the Research Problem/Problem Statement? Rudang Mayang Publisher, 1(1), 1-2.

Tolstoy, D., Nordman, E. R., & Vu, U. (2022). The indirect effect of online marketing capabilities on the international performance of e-commerce SMEs. International Business Review, 31(3), 101946.

Venugopal, S., Gau, R., Appau, S., Sample, K. L., & Pereira, R. C. (2019). Adapting traditional livelihood practices in the face of environmental disruptions in subsistence communities. Journal of Business Research, 100, 400-409.

Wang, M., Callaghan, V., Bernhardt, J., White, K., & Peña-Rios, A. (2018). Augmented reality in education and training: pedagogical approaches and illustrative case studies. Journal of ambient intelligence and humanized computing, 9, 1391-1402.

Yeganeh, H. (2019). An analysis of emerging trends and transformations in global healthcare. International Journal of Health Governance, 24(2), 169–180.

Yi, Y., Zhang, Z., Zhang, W., Jia, H., & Zhang, J. (2020). Landslide susceptibility mapping using multiscale sampling strategy and convolutional neural network: A case study in Jiuzhaigou region. Catena, p. 195, 104851.

Yu, H. (2017). Beyond e-commerce: The social case of China’s digital economy. China Perspectives, 2017(2017/4), 3–8.

Downloads

Published

2023-10-01 — Updated on 2023-10-02

Versions

How to Cite

Alfiana, A., Sri Mulatsih, L. ., Amin, A.-., Stiadi, M. ., & Gustian, D. . (2023). STRATEGIC TRANSFORMATIONS: ASSESSING THE INTERPLAY OF DIGITAL COMMERCE, TRADITIONAL TRADE, AND EMERGING MARKET TRENDS IN THE GLOBAL BUSINESS LANDSCAPE. International Journal Of Humanities, Social Sciences And Business (INJOSS), 3(1), 46–66. Retrieved from https://www.injoss.org/index.php/joss/article/view/108 (Original work published October 1, 2023)

Issue

Section

Articles

Most read articles by the same author(s)